Azenta (AZTA) FY2022 results: revenue $555 million, up 8.1% on the year

Azenta, Inc. (AZTA) reported revenue of $555 million for fiscal 2022, the year ended 30 September 2022, up 8.1% on the year before. Net income was $2.1 billion, up 1825.9%, and diluted earnings per share $28.48. The figures are the company's own, from the 10-K it filed with the SEC on 25 November 2022.

Revenue

$555 million

+8.1% on the year

FY2015FY2022

Operating margin

-4.5%

-6.1% a year earlier

FY2015FY2022

Net income

$2.1 billion

+1,825.9% on the year

FY2015FY2022

Diluted EPS

$28.48

+1,811.4% on the year

FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	555	514	389	+8.1%
Cost of revenue	300	270	216	+11.1%
Gross profit	256	244	172	+4.8%
Gross margin	46.0%	47.5%	44.3%
Research and development	27.5	22.4	17.8	+22.9%
Selling, general and administrative	251	252	190	-0.3%
Operating income	-24.7	-31.1	-36.6
Operating margin	-4.5%	-6.1%	-9.4%
Interest expense	4.6	2.0	2.9	+125.3%
Pre-tax income	-9.9	-49.0	-40.3
Income tax	1.4	-20.1	-13.9
Net income	2,133	111	64.9	+1,825.9%
Net margin	384.0%	21.6%	16.7%
Diluted EPS	$28.48	$1.49	$0.88	+1,811.4%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2022	FY2021	FY2020	On the year
Operating cash flow	-466	150	37.9
Capital expenditure	73.4	52.8	39.9	+39.1%
Free cash flow	-539	97.1	-2.1
Free cash flow margin	-97.1%	18.9%	-0.5%
Cash from investing	1,466	-146	-22.7
Cash from financing	-62.8	-25.9	-27.0
Depreciation and amortisation	53.7	65.3	65.5	-17.8%
Share-based compensation	10.7	27.5	16.3	-61.2%
Buybacks	0.0	n/a	n/a
Dividends paid	7.5	29.7	29.5	-74.8%
Dividend per share	$0.10	$0.40	$0.40	-75.0%
Diluted shares, weighted	75m	74m	74m	+0.6%
Shares outstanding at period end	75m	74m	74m	+0.9%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	3,363	1,325	1,214	+153.8%
Debt	0.0	49.7	50.4
Operating lease liabilities	49.2	45.1	18.9	+9.2%
Finance lease liabilities	0.1	n/a	0.3
Other liabilities	303	399	276	-24.0%
Total liabilities and equity	3,716	1,820	1,559	+104.2%
Goodwill	514	469	453	+9.4%
Intangible assets	178	187	212	-4.4%
Investments	1,264	3.7	3.2	+34,251.3%
Cash and equivalents	658	227	251	+189.4%
Receivables	164	120	94.8	+36.6%
Inventory	85.5	60.4	37.1	+41.6%
Other assets	853	752	508	+13.4%
Total assets	3,716	1,820	1,559	+104.2%

10-K for the year ended 30 September 2022, filed 25 November 2022: the filing.